A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.

Creditcane™: I'm being held for ransom by the bulls.

SPXBullish short day. Midpoint above EMA(10). Still above all SMA's. Above the 14.6% retrace (1319.09). New high on daily 3LB (reversal is 1305.14). QE2infinity. "JBTFD. Don't question it. Just do it. Trust me."

DXYBearish short day (tail too short for hammer). Midpoint below EMA(10). Made a new 0.% retrace (73.74). Below all SMA's. New low on daily 3LB (reversal is 75.50).

VIXBearish harami day (but we're in a downtrend not an uptrend…hmmm). Midpoint below EMA(10). Still below all SMA's. New low on daily 3LB (reversal is 16.27). Deep in the "no fear" zone.

GOLDSpinning top day. Midpoint above EMA(10). Made a new 0.0% retrace. Still above all SMA's. New high on daily 3LB (reversal is 1492.90). Holding above upper trend line. Must have the precious.

EURUSDSpinning top day. Midpoint above EMA(10). Still above 1.4374 (the 76.4% retrace). Still above all SMA's. New high on daily 3LB (reversal is 1.4215).

JNKBullish short day (tail too short for hanging man). Midpoint above EMA(10). Back above all SMA's. Back above its 85.4% retrace (40.60). Still below lower trend line. New high on daily 3LB (reversal is 40.46).

10YR YIELDBullish short day (no confirmation closed unchanged). No test of 0.0% retrace at 37.44. Still below all SMA's. Midpoint below EMA(10). Tested and held 38.2% retrace (33.71). Held the upper trend line. No daily 3LB changes (reversal is 34.66).

SILVERBullish long day. Still above all SMA's. Midpoint above EMA(10). Made a new 0.0% retrace. Holding upper trend line. New high on daily 3LB (reversal is 42.95). Registered or eligible is the question.

This move down was the week ending 8/27/10. Guess what else happened that week? Gold's move to 1500 is nothing compared to silver's move to 45. This ratio is rapidly approaching its old ratio of 16:1. Using todays numbers where gold is 1500 then silver would be 93.75. Or with silver at 45 then gold would be 720. Don't see either of those happening anytime soon. So gold at 1600 and silver at 100 may be in the works.

DXYBearish long day (confirmed bearish harami). Midpoint below EMA(10). Made a new 0.0% retrace (74.27). Below all SMA's. Daily 3LB reversal down (reversal is 75.50).

VIXBullish long day (after huge gap lower & still closed lower). Midpoint below EMA(10). Still below all SMA's. New low on daily 3LB (reversal is 16.59). Deep in the "no fear" zone.

GOLDSpinning top day. Midpoint above EMA(10). Made a new 0.0% retrace. Still above all SMA's. New high on daily 3LB (reversal is 1486.00). Holding above upper trend line. Must have the precious.

EURUSDBullish long day (confirmed bullish piercing). Midpoint above EMA(10). Back above 1.4374 (the 76.4% retrace). Back above all SMA's. Daily 3LB reversal up (reversal is 1.4215).

JNKSpinning top day. Midpoint above EMA(10). Back above all SMA's. Back above its 76.4% retrace (40.50). Tested and failed its 85.4% retrace (40.60). Still below lower trend line. New high on daily 3LB (reversal is 40.21).

10YR YIELDDragonfly doji day (refused to go higher). No test of 0.0% retrace at 37.44. Still below all SMA's. Midpoint below EMA(10). Tested and held 38.2% retrace (33.71). Held the upper trend line. No daily 3LB changes (reversal is 34.66).

SILVERBullish long day. Still above all SMA's. Midpoint above EMA(10). Made a new 0.0% retrace. Holding upper trend line. New high on daily 3LB (reversal is 42.58). Almost time to start hiding the silverware.

Still trying to find a way to better understand Skew. I'm waiting for my data provider to get the historical for Skew so I can do a better analysis. The bottom chart is the spread between Skew and Vix. The rising wedge has been broken to the upside. Above 100 indicates more OTM action than ITM or ATM action in SPX options. Skew is for tail risk. The apex of the wedge is around 4/25/11-4/26/11.

New High New Lows (daily info info)

Somehow the NYSE and NASDAQ managed to close higher yet there were more new lows for each index. Divergence, conundrum, quirk, magic trick or mystery meat are the terms that come to mind when seeing this. Yes I know it's a little colorful.

Last week made a new high on less than 50% of the volume of the previous week. It also looks like it is trying to form an evening star pattern. A lower weekly close would form the pattern but a close at or below 63.58 (midpoint of long candle) would be an even better formation. But this week may be just some profit taking before starting the next move higher.

Hello Everyone.

Last night, AmenRa and I decided to make a few changes to this site because, quite frankly, this Blog has changed in the last few weeks.

CV, who founded Traders Anonymous, will no longer be an administrator. AmenRa (the lead contributer) and I have taken over all administrative duties and responsibilities. We've invited CV to be an author if he would like to be involved in some authorship role.

The intent is for this Blog to get back to its "roots," which is trading and technical analysis. The Comments section will remain open and uncensored, though we will reserve the right to moderate where necessary.

As a "personal aside," I know that several of our good friends have left this site in the last few weeks for various reasons. The primary 'strength' of this blog, and almost any blog for the matter, is the contribution of the commenters/readers/friends. We value those friends and their ideas.

My hope is that folks decide to add their voices back to the discussion again, if only on occasion. This particular blog will never "go away" or be shut down. If there's no demand for the analysis and/or people don't feel like commenting in the future, then we'll probably just stop posting threads "some day." Either way, this blog will remain public and open to all.

Last night, AmenRa and I decided to make a few changes to this site because, quite frankly, this Blog has changed in the last few weeks.

CV, who founded Traders Anonymous, will no longer be an administrator. AmenRa (the lead contributer) and I have taken over all administrative duties and responsibilities. We've invited CV to be an author if he would like to be involved in some authorship role.

The intent is for this Blog to get back to its "roots," which is trading and technical analysis. The Comments section will remain open and uncensored, though we will reserve the right to moderate where necessary.

As a "personal aside," I know that several of our good friends have left this site in the last few weeks for various reasons. The primary 'strength' of this blog, and almost any blog for the matter, is the contribution of the commenters/readers/friends. We value those friends and their ideas.

My hope is that folks decide to add their voices back to the discussion again, if only on occasion. This particular blog will never "go away" or be shut down. If there's no demand for the analysis and/or people don't feel like commenting in the future, then we'll probably just stop posting threads "some day." Either way, this blog will remain public and open to all.

10YR YIELDBearish long day (gravestone doji destroyed by tomb raiders). No test of 0.0% retrace at 37.44. Back below all SMA's. Midpoint below EMA(10). Tested and failed 38.2% retrace (33.71). Held the upper trend line. New low on daily 3LB (reversal is 34.66).

Disclosure/Warning

This blog should not be interpreted as investment advice of any kind.The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind.The authors may or may not trade in the markets discussed.The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.

Fictional Character Quote of the Day:

I guess it comes down to a simple choice. Get busy living or get busy dying.

- Andy Dufresne

"The Shawshank Redemption"

About this Blog

This Blog's primary focus is on trading based upon technical analysis. It is run by "AmenRa" and "AndyT," quasi-anonymous traders who employ technical analysis to assess market conditions and trading opportunities. AmenRa utilizes 3LB techniques, Moving Averages and Fibonacci sequences. AndyT's analysis relies primarily on "Wave Theory" and Fibonacci sequences. The Comments Section is uncensored and open to the public. Please try and adhere to the "Blogger Policy."